| 1. |
Open a checking or savings account. Lenders may look at this
to determine if you can responsibly handle money. |
| 2. |
Apply for store and gas credit cards that you would normally
pay cash. |
| 3. |
Apply for a secured card where you deposit cash and charge
against it. Pay advances back over two months so that they will
be reflected as positive marks on your credit report. |
| 4. |
Pay your utility bills and rent on time for at least a year.
|
| 5. |
Find a friend or relative to cosign for you on a loan and
pay it on time. |
| 6. |
Look for car dealers and mortgage brokers that attest to be
“bankruptcy friendly”. Buy a used car so you do
not get hit with the depreciation that occurs during the first
two years of a new car purchase. |
| 7. |
Stay away from payday loans that are at high interest rates
and are a “bad credit” trap. |
| 8. |
Write a letter to each credit reporting agency explaining
the circumstances that lead to you filing. |
| 9. |
Live within your means. Do not unnecessarily increase your
debt to income ratio by taking on credit to purchase luxury
items that you DO NOT NEED. Your payments on consumer debt should
equal no more than 20% of your expendable income after costs
for housing and a vehicle. |
| 10. |
Pay your reaffirmed, pre-bankruptcy debts on time. |
